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Casual Articles - Keep Your Suppliers Eager With a 70/30 Split
There seems to be loopholes in the advertising laws in the United States and first let me say I am not an advocate of more rules and regulations on advertising or marketing, there
This is an interesting technique for motivating supplier partners t
1. You dread getting out of bed and going to work.But suppose you were in a job or profession that feeds your spirit. Just imagine how exciting it would be to jump out of be
Whenever he contracts to purchase items from more than one supplier, he gives one vendor 70% of the total purchase, while a second vendor gets 30%. And he tells them both exactly what he is doing.
Why this unequal split? And why tell the two suppliers about it? Here’s why:
If the first vendor does a good job, she knows she is keeping well over half the total purchase volume. But if she does a poor job, she knows she stands to lose more than half of what she is currently supplying.
On the other hand, if the second vendor does a great job, he knows he could more than double his orders if he takes over from the first vendor. However, if he does a poor job, he knows he is dispensable as he supplies less than half the company’s required volume.
This is an interesting technique for motivating supplier partners t
Is your business online? If not, probably you’ll make it online. Internet business is a powerful communication and business tool for small and large business. Today most of the bus
Why this unequal split? And why tell the two suppliers about it? Here’s why:
If the first vendor does a good job, she knows she is keeping well over half the total purchase volume. But if she does a poor job, she knows she stands to lose more than half of what she is currently supplying.
On the other hand, if the second vendor does a great job, he knows he could more than double his orders if he takes over from the first vendor. However, if he does a poor job, he knows he is dispensable as he supplies less than half the company’s required volume.
This is an interesting technique for motivating supplier partners t
Well what is a good mechanic worth these days? You cannot place a value on them simply as labor units as they teach in management school, they are worth more than money. So why not
If the first vendor does a good job, she knows she is keeping well over half the total purchase volume. But if she does a poor job, she knows she stands to lose more than half of what she is currently supplying.
On the other hand, if the second vendor does a great job, he knows he could more than double his orders if he takes over from the first vendor. However, if he does a poor job, he knows he is dispensable as he supplies less than half the company’s required volume.
This is an interesting technique for motivating supplier partners t
Marketing is all about getting exposure for your business. While it’s important to have an overall plan for marketing that includes marketing gifts and giveaways, summer is a good
On the other hand, if the second vendor does a great job, he knows he could more than double his orders if he takes over from the first vendor. However, if he does a poor job, he knows he is dispensable as he supplies less than half the company’s required volume.
This is an interesting technique for motivating supplier partners t
If you’re like most folks, you probably think that your work is done once you’ve aced the interview. Well, although the hard part is indeed over, your work is not done. In fact, it
This is an interesting technique for motivating supplier partners that smart purchasing managers understand. Now you know about it, too.
Key Learning Point
Effective programs with your supplier partners help everyone succeed. Be deliberate, and creative, in your contracts.
Action Steps
Identify your most important supplier partners. Review your agreements with them on a regular basis. Be sure they are motivated to give you the best service they can right now, with an eye towards more business in the future.
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